China held a grand gathering on October 14 to celebrate the 40th anniversary of the establishment of the Shenzhen Special Economic Zone （SEZ） in southern Guangdong Province as the country embarks on a new journey toward socialist modernization.

President Xi Jinping attended the gathering and delivered an important speech. Hailing Shenzhens development over the past 40 years as “a miracle in the history of world development，” Xi said the establishment of SEZs is a great innovative move made by the CPC and the country in advancing reform and opening-up as well as socialist modernization.

After four decades of rapid growth， Shenzhen now ranks fifth among Asian cities in terms of gross domestic product （GDP）， which expanded at an annual rate of 20.7 percent to RMB 2.7 trillion in 2019 from RMB 270 million in 1980.

Xi called on Shenzhen to build itself into a pilot zone for socialism with Chinese characteristics， set an example for cities of a modern socialist country， increase its capabilities to implement the new development philosophy， build a new pattern to deepen all-round reform and expand opening-up on all fronts， and contribute to the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.